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APRA releases final package to implement Basel III capital reforms

13 Nov 2012
12.29

The Australian Prudential Regulation Authority (APRA) today released a package of final measures that completes APRA’s implementation of the Basel III capital reforms for authorised deposit-taking institutions (ADIs) in Australia.

The package released today includes APRA’s response to submissions received on its proposed requirements for counterparty credit risk capital and other measures, which were released in draft form in August this year.

In addition to the response paper, the package includes final versions of seven relevant prudential standards, two prudential practice guides and accompanying reporting standards, and revised guidelines on the recognition of External Credit Assessment Institutions.

The Basel III capital framework was introduced by the Basel Committee on Banking Supervision in December 2010 to raise the quality and consistency of the capital base and harmonise other elements of capital. In addition, Basel III improves the risk coverage of the Basel II Framework by strengthening the capital requirements for counterparty credit risk exposures arising from banks’ derivatives, repurchase and securities financing activities.

APRA’s consultations on implementing the Basel III capital reforms in Australia began with the release of a discussion paper outlining APRA’s broad approach in September 2011 and have continued through 2012. In 2013, APRA will begin consultations on the Basel III disclosure requirements.

The package released today can be found on the APRA website at: www.apra.gov.au/adi/PrudentialFramework/Pages/Basel-III-CCR-Final-November-2012.aspx

 

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry. APRA is funded largely by the industries that it supervises. It was established on 1 July 1998. APRA currently supervises institutions holding $4.2 trillion in assets for almost 23 million Australian depositors, policyholders and superannuation fund members.

Media and industry enquiries only:

Charlie Hooper
Senior Communications Advisor
Australian Prudential Regulation Authority
Telephone: 02 9210 3052
Mobile: 0418 203 570
 
All other enquiries:

APRAinfo 1300 558 849